The altcoin market has been experiencing an unexpected downtrend after a promising upward rally, giving bearish woes to investors’ portfolios. Two of the most talked-about altcoins, Solana and MATIC, are no exception, as they are following the ongoing market trend and developing a possible downtrend in the next few days.
Will Solana And MATIC Price Bring The Worst Situation?
Solana and MATIC are two of the fastest-growing altcoins in the market that have made a significant recovery rally after forming a price bottom in November. Since the beginning of 2023, these altcoins have caught investors’ attention and have been making headlines for their impressive performance. However, the bearish market sentiments have jeopardized the upward rally, and many investors are concerned about their future performance.
Solana Price Analysis
SOL price has been able to hold its trend above the $22 mark, which it gained a week ago. However, the next challenge for the altcoin is at $28.2, as a rejection near this level may plunge the asset below its 23.6% Fib level. As of writing, Solana trades at $24.18, declining nearly 1% in the last 24 hours.
A prominent crypto analyst, Momentos, predicts two scenarios for the upcoming Solana price. The analyst noted that the SOL price might become bearish if it fails to hold its pivot area at $26-$29, slumping the token to its EMA-20 trend line at $10.94. However, a trend above the pivot area may send this token to test its crucial resistance above the EMA-200 at $32.
MATIC Price Analysis
Polygon (MATIC) has recently faced a solid rejection near $1.18 and has quickly dropped to the bottom price zone near $1.1 as investors started their profit-taking operations to avoid any sudden price dump ahead. Moreover, the eyes of the altcoin traders are now on the FOMC meeting and Jerome Powell’s comment on interest rate hikes as it can shake up the MATIC price.
A well-known altcoin trader, RMDFinance, predicted that MATIC price is poised for a downtrend as it forms a descending channel pattern. A breakout below the weekly support level of $1.06 may begin bearish trading sessions as MATIC may witness a significant rise in short positions.
According to CoinMarketCap, MATIC’s price hovers at $1.11 with a downtrend of 0.49%. Looking at the daily price chart, the RSI-14 indicator may push the token upward to test its resistance at $1.2 to confirm a short-term upside retracement. If MATIC breaks its resistance at $1.2, it may pave an upward journey to $1.33.
Since the beginning of the year, Solana (SOL) has seen largely upward price movement. However, it has gone down and is now in the red as of this writing. Nonetheless, the token’s potential has been widely predicted by market watchers.
Experts Predict Massive Growth for SOL
Cantering Clark, a pseudonymous trader with 159,000 Twitter followers, recently shared a chart with his audience comparing the recent price movement of Solana (SOL) to that of Ethereum (ETH) in 2018.
As can be seen in the trader’s chart, after repeatedly touching a support level, both assets broke through it, formed a lower bottom, and recovered. Ethereum’s price rose from its 2018 low of $83 to its all-time high of $4,878 at the end of the year, a 5,777% increase. Based on SOL’s last close of $8.50 and the projection of a similar decline before the next bad market, a rebound to around $462 is likely.
In a recent edition of the Bankless Podcast, Chris Burniske, a co-founder of Placeholder VC, a venture financing company specializing in decentralized networks and Web3 applications, set out his bull case for Solana.
It’s hardly surprising that Burniske’s forecast is close to Clark’s, as he also sees parallels between SOL and Ethereum in 2018. He added that Solana is on the right track to harden its asset and will continue to do so, even if Ethereum is now a tougher asset.
The expert responded affirmatively when asked whether the SOL token will follow the same trajectory as Ether, which has become a type of money due to its shrinking availability. According to him, the return on investment for the individuals who are putting up cash in SOL is fairly low at 6% each year.
In any case, the fact that analysts think the SOL price may move up higher in the future and might join the current retest period is great news for buyers and sellers. Hence, with consistent purchasing, this cryptocurrency has the potential to increase by another 10% and test the $30 barrier level.
Along with other cryptocurrencies like Bitcoin and Ethereum, there was another altcoin Solana which also got submerged into the bearish momentum. This public Blockchain platform started its downward movement on Aug 13, 2022. Moreover, the altcoin dropped to $8 on Dec 29 after the collapse of FTX.
However, as the world entered the year 2023 the digital assets began their recovery phase and so did the Solana. As of now Solana has managed to spike nearly 225% since its downfall.
At the time of writing, Solana is selling at $24.44 after a surge of 1.40% over the last 24hrs.
Meanwhile, a well-known crypto analyst and trader Chris Burniske believes it’s a mistake if any trader or investor gets overly bearish towards Solana. Chris Burniske who is a former crypto lead at Ark Investment is of the opinion that though Solana has reversed from its local resistance area, the altcoin still has some hope for a breakthrough.
Solana To See A Price Gain ?
Moreover, the analyst compares the weak Ethereum/Bitcoin pair to the Solana/Ethereum pair which is much stronger. While he compares the analyst states that there is a risk in the market yet yesterday’s pull back will continue for a longer time.
However, Burniske warns traders and investors against getting extreme bearish on Solana. This is because the analyst believes that Solana and other major cryptocurrencies will make a comeback which he expects to happen in the next few months. Chris also states that the current market correction will increase and the traders who have leveraged longs open will incur huge losses.
As per Burniske’s claim yesterday’s claim, investors can make use of the Solana/Ethereum pair as a risk indicator which lets them know market risk. When looking at the Solana/Ethereum pair’s performance in the last few days, it can be seen that the market risk is gradually decreasing.
Also the Solana network boasts of launching major updates this year and if that happens the currency will surely gain some uptrend in the days to come.
Solana price has broken a three-week rising trend, thus questioning the momentum to push beyond pre-FTX levels. According to our latest crypto price oracles, Solana’s price has dropped approximately 5.4 percent in the past 24 hours to trade around $23.22 today. After rallying over 100 percent in the past three weeks, the Solana bears are slowly taking control.
Consequently, a possible retrace could push Solana’s price to around $15, where the digital asset may find temporary solace. Moreover, the 200 MA in 4-H has risen to this level. Additionally, the RSI shows an overbought asset with a falling divergence, which indicates an imminent price fall. Perhaps the asset is forming a head and shoulder on the lower time frames, which could lead to psychological sell pressure.
Whether the bulls defend the rising trend in the coming weeks or not, the ultimate decision is likely to be affected by the Bitcoin market sentiment. Moreover, the January 2023 cryptocurrency rally has significantly been affected by Bitcoin price.
Solana Fundamental Aspects Shows More Pain Ahead
The Solana ecosystem has grown to a top 20 project by market capitalization due to its huge backing from whale investors. However, the network activity has significantly declined in the past year fueled by the FTX collapse. According to statistics from the token terminal, as shown below, Solana’s weekly active users have been declining in each subsequent quarterly since 2022.
Additionally, the total value locked (TVL) in the Solana ecosystem has significantly reduced since late 2021. The Solana TVL has moved from over $11 billion to about $270 million today.
Nonetheless, the Solana developers are hard at work building DeFi projects to be shipped out through the Saga mobile App Store.
2022 was a roller coaster for all cryptocurrencies. Events like FTX’s downfall resulted in a crypto Winter, causing drastic declines in price charts of popular cryptos, including Cronos, Solana, and Polkadot.
The market condition shifted investors’ attention to new promising cryptos that are currently fetching exceptional gains, one of these emerging new crypto projects being BudBlockz (BLUNT) market share in the smart contract arena.
The global legal cannabis market was valued at USD 17.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.3% from 2022 to 2030.
The increasing rate of legalization of cannabis and acceptance of its use in the medical field are the key factors for which the market is expected to boom.
BudBlockz is building the world’s first decentralized online eCommerce for cannabis enthusiasts to access the global cannabis markets privately and securely.
BudBlockz (BLUNT) plans to connect its users with fractionalized ownership in farms, dispensaries, and CBD manufacturers.
It will also feature its NFT collection, known as the Ganja Guruz NFT Collection, which, when released, will add an even greater level of utility to the network.
The platform’s native token, $BLUNT, will power its ecosystem and drive many activities to grow the ecosystem through staking, governance, rewards, and voting.
Also, $BLUNT will play a crucial role in solving many issues cannabis companies and entrepreneurs face regarding fundraising, logistics, and data management.
The company offers another great opportunity for investors worldwide to become part of the platform’s success story through its ongoing presale stage.
Crypto.com is a decentralized blockchain platform developed by the Crypto.com payment, trading, and financial services company.
$CRO is the utility token for the Crypto.com exchange. CRO can be used to pay fees on the platform and staked to qualify for various benefits.
The platform saw significant growth last year, partly reflecting Crypto.com’s aggressive promotional activities. Like most crypto projects, CRO has struggled so far.
Crypto.com will allow users to buy and sell with fiat currency and debit cards, along with trading, lending, and borrowing. It also features a non-custodial wallet.
Crypto.com has its own problems. Within the U.S., Crypto.com is not available to New York residents. Also, expect to pay some hefty fees if you use a credit or debit card—as high as 4%.
While there are workarounds, like using ACH for transactions, not all banks can be connected to Crypto.com.
Solana is an open-source blockchain platform that supports smart contracts, including non-fungible tokens (NFTs) and various decentralized applications (dApps).
Native to Solana’s blockchain is the SOL token, which provides network security through staking and a means of transferring value.
Anatoly Yakovenko created Solana alongside current Solana board member and Chief Operations Officer Raj Gokal.
Yakovenko came from a background in system design and wanted to apply his knowledge to a new blockchain paradigm that enabled faster processing speeds.
Solana (SOL) seems promising, but investors still need to decide about putting their money on the platform. Solana (SOL) has yet to make any progress in terms of price growth for a long while and is trending at a significantly low rate.
Polkadot is a network designed to join the dots with all other crypto networks. It is commonly referred to as a multi-chain network because it can join networks together, unlike networks like Bitcoin, which operates on its own.
It aims to act as a framework for all blockchains that opt-in, like how HTML allows sites, browsers, and servers to interact.
The idea is to take care of costly and messy cryptocurrency mining processes (including validation of transactions and security protocols) and enable developers to focus on creating dapp and smart contract functionality.
Polkadot (DOT) faces high competition from decentralized applications, including Ethereum, Tron, the Binance Smart Chain and Cardano. Polkadot does face a difficult battle in acquiring
Many experts have hinted that BudBlockz (BLUNT) is an important token to watch out for because it can potentially transform the cannabis industry.
Use promocode: BUYBLUNT for a 20% bonus on your purchase. Valid until January 31st.
CIP-30 To be Activated on Cardano Soon, Solana Re-Enters Top 10 Digital Asset, Snowfall Protocol Early Investors To Profit Over 5000%
The crypto market has been in a positive cycle lately, with many tokens seeing instant price gains. However, it is yet to be seen if tokens such as Cardano (ADA) and Solana (SOL) will be able to maintain their high growth rates for a long time. On the other hand, some newly launched tokens like Snowfall Protocol (SNW) have been growing consistently since launch. In this article, we will discuss what makes Snowfall Protocol (SNW) stand out from pre-existing and well-known tokens like Solana (SOL) and Cardano (ADA).
Cardano (ADA) developer discloses plans of CIP-30
A developer and contributor to the Cardano (ADA) crypto ecosystem, Adam Dean, has shared the specifics of his work on CIP-30. To connect crypto asset storage with decentralized applications, hot wallets based on Cardano (ADA) need the functionality of web page interaction, which may be achieved with the help of the proposed Cardano (ADA) enhancement. WooCommerce is the most popular e-commerce platform, and now Cardano (ADA) Mercury can be used as a direct payment channel between customers and business owners.
On the price front, Cardano’s (ADA) recent analysis shows that after a strong bullish period, Cardano (ADA) is trading at $0.36. After a few days of ups and downs, the price is 11% higher than it was earlier this week when it hit a high of $0.31. However, technical analysis suggests that the price might fall in the foreseeable future. Cardano (ADA) is still 78% below its price in January 2022, and it will take a long time for the cryptocurrency to recover.
Solana’s (SOL) dramatic price increase may fade soon
After a seven-day surge that saw its value increase by more than 70%, Solana (SOL) got ahead of Polygon on January 15, pushing it to the tenth spot on CoinMarketCap’s list of top crypto assets by market cap. Solana (SOL) returned to the list pushing other well-performing tokens below, especially after the FTX collapse of 2022. The sentiment toward Solana (SOL) appears to have turned positive again, as its price has increased by roughly 135% since the start of 2023.
In the past week, the market value of Solana (SOL) has risen from $5 billion to nearly $9 billion. Further, Mamba, the co-founder of the Solana (SOL) project, stated that believers in the token’s progress bought the coins, leading to a dramatic price increase in just 15 days. The growth of Solana’s (SOL) ecosystem was paralleled by the birth of a new meme coin, Bonk Inu. Solana (SOL) is still much behind its all-time highs and the token’s future depends upon the overall investor interest, which may fade over time.
Snowfall Protocol (SNW) wins in terms of price gains
Though the market was experiencing a dip, Snowfall Protocol’s (SNW) value has been steadily increasing. Snowfall Protocol (SNW) has performed very well since it was launched in the crypto market, and investors have been keen on finding what’s next for the revolutionary token. Despite the decentralized system not yet being live, investors of Snowfall Protocol (SNW) have seen remarkable returns of 500% since the token’s first presale phase.
The final Stage of Snowfall Protocol’s (SNW) presale is presently active, and the token is being offered at a 400% premium over its Stage 2 prices. Snowfall Protocol (SNW) is an attractive investment due to its low price of $0.191, and the benefits it provides its users. Snowfall Protocol (SNW) is set to launch on February 3. In the months following the coin’s launch, investors may witness profits exceeding 5000% of their initial investment.
|Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.|
Snowfall Protocol (SNW) Looks More Promising as Solana (SOL) and Bitcoin (BTC) Maintain a Bullish Trend
As 2023 gets underway, now is the time to decide on which crypto project to invest in. While Solana and Bitcoin seem like good investments, a new performer is in the game, Snowfall Protocol. Market experts say the Snowfall Protocol looks more promising than Solana (SOL) and Bitcoin (BTC).
Why Solana (SOL) and Bitcoin (BTC) are promising investments in 2023
The Solana (SOL) network is one of the world’s fastest and most cost-effective Layer-1 networks. Many people believe that Solana (SOL) has reached its lowest, even though the token has sustained significant damage due to the fall of FTX. In the big picture, things are turning around for Solana (SOL).
Once Firedancer is implemented, it is anticipated that its already great rates of 65,000 transactions per second (TPS) will see a further rise. Firedancer is a brand new validator client that Jump Crypto developed. It has been demonstrated in testing that it is capable of speeds of up to 600,000 TPS. This year, Solana (SOL) will also release its Saga smartphone, which is one of the first mobile devices in the world that is compatible with Web3.
Similarly, Bitcoin is undisputedly the most popular cryptocurrency, which has given it an edge over other coins in the market. After the hit suffered by the crypto giant during the FTX crash, it is gradually rising again, just like it has always done. This makes investors believe more in it.
Both Solana (SOL) and Bitcoin are compartmentalized inside their respective silos (BTC). Despite having a lot of potential, Solana (SOL) and Bitcoin (BTC) both have limitations as we move closer to a future with several chains.
Why Snowfall is a more promising investment in 2023
Snowfall Protocol (SNW), which allows users to transfer data from one blockchain to another, is revolutionizing how things work in the crypto industry. It is an interoperability solution that aims to make transfers between EVM and non-EVM chains as easy as possible.
Since there are numerous smart contract-enabled chains, Snowfall Protocol (SNW) saw a need for a simple bridge that let users transfer their digital assets without problems. Now, they can transfer data from one blockchain to another whenever required. As such, continue using their preferred chain to reap the primary benefits of other blockchains if they use the Snowfall Protocol (SNW). This is unlike the existing interoperability solutions, which are constrained in the tokens they support and have poor accessibility.
Snowfall Protocol (SNW) has successfully raised more than $3 million after investors had completely purchased each step of its presale. Throughout this process, the cost of Snowfall Protocol’s native token has skyrocketed dramatically, increasing from $0.005 in the first phase of the presale to $0.191 in the phase currently taking place. That is already a 3450% increase, looking very promising.
|Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.|
The global market capitalization has just reclaimed the $1 trillion mark with a massive jump of 6.31% compared to the last trading day. Bitcoin price soared beyond $22,500, while Ethereum price is heading towards $1700. With the bullish sentiments mounting within the crypto space, many of the altcoins have also begun with a notable upswing.
Solana price, which was presumed to be dead, has now reclaimed the top 10th spot with a massive surge of more than 200% from its lows. Meanwhile, Aptos (APT) surged iconically by nearly 50% in the past few hours which raised the possibility of the trend being at the initial stage of a healthy Altseason.
The APT price ever since the beginning of the year ignited a gigantic rally and surged by nearly 270% to rise from $3.6 to as high as $12.9 and still counting. However, the price consolidated after marking the levels at $8 for a while and rose by nearly 60% in the past 24 hours to form new highs for the year 2023. The bullish volume has accumulated and hence fewer possibilities of a pullback may be expected.
Besides, Solana’s price jumped above $25 with a notable upswing of more than 20% as the trading volume jumped by more than 143% marking $1.78 billion. The market capitalization also surged by 20.27% which is currently hovering at $9.34 billion, displaying its potential to go long slicing through the negative market sentiments.
Solana’s price marked its bottom soon after the FTX fallout as it suffered the highest exposure to the event. Many believed the SOL token may not rise again, but the giant price action which began at the start of 2023, shed a ray of hope. Presently, the SOL price is undergoing a parabolic recovery and with frequent upswing is assumed to reach beyond crucial resistance at $35 by the end of January 2023.
Collectively, the bullish momentum is believed to prevail for a while, which may keep up the prices to some extent. The upcoming weekend can be considered pivotal as the trend tends to change quickly. Hence, if Solana (SOL) & Aptos (APT) prices close the weekly trade above the gained levels, then the upcoming trend may mark multiple bullish candles ahead.
The world of cryptocurrency is constantly evolving with new players entering the market and established ones experiencing fluctuations in value. Among the most exciting developments in recent months are the trio of blockchain projects known as Solana (SOL), Polkadot (DOT), and Snowfall Protocol (SNW).
These three projects have been making waves in the crypto space, with each offering unique features and benefits to users. In this article, we will take a closer look at these three projects, and explore their potential impact on the world of blockchain and cryptocurrency.
Solana’s (SOL) history of volatility raises concerns for investors
Despite its recent surge in price, Solana (SOL) is not without its disadvantages. One of the biggest concerns about Solana (SOL) is its history of dramatic price fluctuations. Last year, the price of Solana (SOL) collapsed by more than 80%, which has recently begun to recover. This volatility can make it difficult for investors to make accurate predictions about the future value of the coin.
Additionally, Solana’s (SOL) position as an “Ethereum killer” may be overstated. While the project has some unique features, it still faces stiff competition from other blockchain platforms. The current price of Solana (SOL) is $23.01, with a 24-hour trading volume of over $1.5 billion. However, Solana (SOL) has seen a 1.07% decrease in value in the last 24 hours.
Polkadot’s (DOT) lack of transparency raises questions about Nomination Pool functionality
Polkadot (DOT) has made significant progress with its new Nomination Pool feature, but it is not without drawbacks. The platform has been cautious in providing details about how the Nomination Pool works, which can make it difficult for users to fully understand its capabilities. Additionally, Polkadot’s (DOT) decision to double the maximum number of pools to 128 may lead to a higher level of centralization. Moreover, Polkadot’s (DOT) recent ranking as the number one cryptocurrency with the highest Nakamoto Coefficient metric may be misleading as it is not a measure of decentralization. As of now, the value of Polkadot (DOT) is $5.76, with a 24-hour trading volume of over $308 million. However, Polkadot (DOT) has seen a decrease of 3.63% in the last 24 hours.
Investors take notice of Snowfall Protocol’s (SNW) potential for long-term success
The multi-chain communication mechanism was difficult and immature until Snowfall Protocol (SNW) was introduced. However, Snowfall Protocol’s (SNW) dApp enables the easy and secure transfer of both fungible and non-fungible assets. It is the first cross-chain platform to allow asset transfers across EVM and non-EVM chains. While still in its early stages, Snowfall Protocol’s (SNW) excellent performance during its presale phase has piqued the interest of both investors and industry experts.
The initiative is expected to grow rapidly, with potential profits of up to 1000x. Leading investors are starting to realize Snowfall Protocol’s (SNW) long-term potential, making it an excellent moment to participate in the project because the price is still relatively low compared to where it will be once the presale phase concludes on February 3rd. Snowfall Protocol (SNW) is currently trading at $0.191, and is predicted to rise higher in value.
Solana (SOL), Polkadot (DOT), and Snowfall Protocol (SNW) are all exciting projects with unique features and benefits. While Solana and Polkadot (DOT) have their drawbacks, Snowfall Protocol (SNW) stands out as a revolutionary project with the potential to change the way we think about blockchain and cryptocurrency. With its innovative dApp and strong investor interest, Snowfall Protocol (SNW) is a project to watch in the coming months.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
|Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.|
The Solana (SOL) price has seen a significant rally of over 79% in the past 30 days, despite the recent crisis on FTX and Alameda.
According to current crypto price oracles, SOL is currently trading around $21.33, down approximately 6.1%. Since hitting lows of $7.9 in late December, Solana’s price has been on an upward trend, perfectly respecting the support trend line. The rally in the past two weeks has reportedly been fueled by high liquidations and FOMO traders.
From a technical perspective, Solana’s price has a higher chance of making another outburst from current levels, with minimal resistance toward pre-FTX levels. This is supported by the increased daily traded volume, which currently stands at around $1,545,622,867, compared to $500 million in mid-December.
This increase in trading volume indicates higher demand and reciprocates to an increase in value.
However, the Solana rising narrative may be invalidated if the price drops further in strong bars like the rallying ones. In that case, Solana traders can expect to retest the area around $16, where the 200 4H MA has reached.
The Solana sell pressure is expected to widen as FTX officials liquidate over $1.2 billion worth of SOL to repay creditors. Additionally, the Solana ecosystem may record more sell pressure as FTX officials dump over $500 million worth of SPL tokens. According to aggregate data provided by Coinglass, over $8.7 million has been liquidated in the past 24 hours in the Solana ecosystem.
Nevertheless, DeFi developers on the Solana continue to build with over $257 million locked in the Sol network according to data provided by defillama.
Solana Co-founder Talks About Altcoin Challenges, Polygon’s Blockchain To Undergo Hard Fork While Snowfall Protocol Alerts Investors About Scammers
Top crypto projects, including Polygon (MATIC) and Solana (SOL), have been working hard to complete advanced solutions brought by new projects like Snowfall Protocol (SNW). Investors have also become keener on which crypto projects they must invest in 2023.
Anatoly Yakovenko shares Solana’s (SOL) challenges and needed solutions while the price reaches $22.05
The Solana (SOL) community has been reviewing the challenges they face while trading on the platform. The co-founder of Solana (SOL) openly shared the drawbacks of altcoin. He discussed some of the major issues of Solana (SOL), like constant outages, certain levels of centralization, firm market corrections, etc.
He also mentioned that these issues have frustrated Solana (SOL) investors, which might lead them to withdraw their investments soon. However, he also pointed out that Solana (SOL) has recently implemented a 2nd validator built by Jump. It indicates that Solana (SOL) users will not face any issues if bugs attack one of the validators. Solana (SOL) also became the world’s 2nd altcoin that has more than one validator that works independently.
The promising solutions of Solana (SOL) platform have impacted its price positively. Solana (SOL) is selling with a live price of $22.14, which is a 34.21% increase within a day.
Polygon (MATIC) proposes a hard fork; the price goes 6.02% up
Polygon (MATIC) community will soon vote on its PoS blockchain’s hard fork proposal.
If the Polygon (MATIC) community approves it, the software upgrade will happen in January.
The Polygon (MATIC) hard fork will target two major issues that the project often faces: Reorgs or chain reorganization and gas fee spikes. Thus, Polygon (MATIC) hard fork will adjust the gas fee structure of the platform and reduce the fee during high chain activities. Additionally, the Polygon (MATIC) hard fork will assure proper transaction verification within a short time when the network experiences reorg.
The Polygon (MATIC) hard fork may boost the token price and offer better rewards to Polygon (MATIC) community members and validators. Polygon (MATIC) currently has a live price of $0.9718, which is 6.02% up in the past 24 hours.
Snowfall Protocol (SNW) calls out scammers to protect its investors’ money
Snowfall Protocol (SNW) has performed extremely well in its presale phases, which have attracted both investors and scammers. Snowfall Protocol (SNW) noticed a few fake websites that are trying to sell duplicate Snowfall Protocol (SNW) tokens.
Snowfall Protocol (SNW) Twitter handled immediately pointed this out through a detailed post. The post shared the original address for Snowfall Protocol (SNW) to help new investors recognize real Snowfall Protocol (SNW) tokens.
The post also mentioned that the official launch date for Snowfall Protocol (SNW) is very close, and the crypto project is available on the Binance Smart Chain network.
Snowfall Protocol (SNW) token has a current price of $0.191, which is predicted to grow by 5000% soon. So, buy in the Snowfall Protocol (SNW) presale from its official website and earn multiplied returns later.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
Solana to follow ETH’s 2021 bull run
Bitcoin is expected to drop before a massive bull run
Since the mid of December 2022, Solana has emerged as one of the best performing altcoin with its consistent bull run. This smart contract platform which tends to follow Bitcoin and Ethereum, is just a few figures away from claiming back its lost value after FTX collapse.
Currently, Solana is valued at $23.49 with a gain of 0.22% over the last 24 hrs and 47% in the last one week.
Meanwhile, a well-known crypto analyst and strategist who is anonymously known as Inmortal informs is of the opinion that Solana might flash Ethereum’s 2021 bull rally. The analyst informs his 191,200 followers over Twitter that Solana might mirror Ethereum’s 2021 price action when ETH managed to hit its all-time high of $400.
If Solana has to perform as per the analyst claim, the altcoin should move past its crucial resistance of $60.
Bitcoin At $24K
However, Inmortal predicts Bitcoin to drop below $20,000 before it makes a move towards the $24,000 area.
Another crypto analyst known as Altcoin Sherpa also portrays his bullish stance towards Solana. He attempts to inform his 189,100 Twitter followers that Solana will see an upward rally of more than $30 if BTC moves north.
As we close out the coldest crypto winter the space has experienced in recent memory, choosing a winning investment can be a herculean task for many cryptocurrency investors. Many currencies, even established smart contract platforms like Polkadot (DOT) and Solana (SOL), for instance, have struggled mightily as a result of macro events like the collapse of FTX and Alameda Research.
On the other hand, while buying the dip on either Solana (SOL) or Polkadot (DOT) can be tempting for some investors, the largest gains remain in ICO and presale events for packed cryptocurrencies with serious potential to rise, like Flasko. Let’s examine how Flasko might be a better buy than Polkadot (DOT) or Solana (SOL) in 2023.
Solana (SOL) Investors Heading for the Exits
Solana (SOL) needs very little introduction, considering the layer-1 smart contract platform made headlines in 2021 when Solana (SOL) tokens surged to all-time highs of $260 from ICO prices of $0.22. Needless to say, the Solana (SOL) ecosystem has since grown exponentially, with the blockchain enabling DeFi, NFTs, and fast, scalable dapps.
However, fast forward to December 2022, and Solana (SOL) market capitalization has been reduced to just a fraction of what it once was, and trading below $10 per Solana (SOL) token as of this writing. The FTX fallout has raised Solana (SOL) selling pressure, with even the most intrepid investors filing out for the exits.
Polkadot (DOT) Struggles to Inspire Investor Faith
Like Solana (SOL), Polkadot (DOT) became prominent in 2021 as smart contract platforms iterating on Ethereum took off. Polkadot (DOT) is the finest exponent of specialized blockchains known as parachains, giving Polkadot (DOT) token holders a hand in managing the network with its unique governance structure.
But despite the use cases argued for Polkadot (DOT), investors have remained cautious about buying into the protocol. Polkadot (DOT) tokens are worth $4.31, or over 93% below its ATH levels of $55, representing how far Polkadot (DOT) has fallen in investor mindshare over the past year.
Flasko (FLSK): The Can’t-Miss Presale Opportunity of 2022
Flasko has just launched its phase two presale, offering crypto investors an opportunity to reverse their fortunes by investing in a blue-chip protocol to close the year.
Flasko is building the first alternative-investment platform enabling users to invest in the high-performing alternative assets sector of rare wines, whiskeys, and champagnes, allowing them to mint, buy, sell, and hold NFTs backed by real-life bottles of the finest investment-grade luxury beverages and profit from their constantly rising prices and quality.
Flasko is available at bargain-basement presale prices at $0.1575 per token. Still, it is expected to reach a potential $5.50 by August 2023, after Flasko has gained a listing on Uniswap and other major cryptocurrency exchanges. You won’t see that ROI anywhere else during this bear market, much less for cryptocurrencies like Polkadot (DOT) and Solana (SOL), which have already seen their better days.
Best of all, Flasko has secured the long-term viability of its protocol by passing a full audit conducted by Germany-based Solid Proof. Moreover, Flasko has locked platform liquidity over the next three decades and team token allocations for the next three years (followed by another 3-year vesting period). This demonstrates the Flasko team’s commitment to seeing its platform succeed.
Don’t miss out on your last chance to get in on blue-chip crypto while the presale is still ongoing: follow the links below to participate.
When allegations of possible fraud at Sam Bankman Fried’s FTX cryptocurrency exchange, which was the world’s second-largest at the time, first came to light, Solana’s popularity took a nosedive. However, Solana discovered a technique to swiftly change the ecosystem’s PR. And that technique is the infant meme token Bonk (BONK).
Immediately after FTX’s fall from grace, the Solana community created BONK to refocus the spotlight on their decentralized network.
The Launch of BONK
BONK is a meme token that runs on the Solana blockchain. It was released in December 2022 under the slogan “for the people and by the people,” and it was created by a community of users. Since its inception, the value of a single Bonk has increased by 3,200%, although at press time BONK has since decreased by quite a significant amount.
There are countless tweets from different projects and influencers advertising Bonk giveaways in exchange for retweets and likes. NFT projects are integrating Bonk into their systems.
It is possible that the Bonk airdrop, which consisted of fifty percent of the total supply of its tokens, prompted huge community interest and rapid buzz. Twenty percent of the overall airdrop supply is being distributed to Solana NFT collections, which amount to 297,000 unique NFTs; the remaining ten percent is being distributed to Solana-focused artists and collectors.
As for the developers of the token, nobody knows who they are as they’ve opted to remain anonymous. We do know that there are twenty-two people and they do not have a core team.
In addition, it is said that they have all been a part of the Solana ecosystem for a considerable amount of time and have developed relationships over the course of the past two years.
However, the developers of Bonk Inu have stated that they have no current intentions to build a dedicated blockchain network around Bonk. Their focus is entirely on boosting Solana’s transaction volume and demonstrating the value of the low-cost network.
The creators of Bonk have stated unequivocally that neither Solana Labs nor the Solana Foundation played any role in its development.
Is The Technique Working?
Clearly. According to research that was published on Jan. 11 by crypto in-depth research platform Delphi Digital, the number of total active wallets that are communicating with Solana-based exchanges has climbed by 83%, going from around 45,000 daily to over 83,000 daily.
Delphi analysts said in the report that the increase in activity occurred despite there being no structural shift or catalyst for the network. They noted the release of BONK in late December as the cause of the change.
At the time of this writing, the value of BONK has dropped by 12% over the previous twenty-four hours and by 67% over the previous week.
Solana Price Surges As Shiba Inu Rival BONK Takes Off, The Price Of Orbeon Protocol Price Increases Again
The crypto market has taken a turn in 2023. Solana is on the rise, BONK, a new Shiba Inu rival, has taken the market by storm, and Orbeon Protocol continues to defy trends, rising in value for the third month in a row by over 980%. As the market recovers, investors are looking to boost their portfolios. Here’s why they should consider Solana (SOL), BONK and Orbeon Protocol (ORBN).
Orbeon Protocol Is On Track To Become One Of The Biggest Cryptos In 2023
Orbeon Protocol is one of the most anticipated projects of 2023, with an exciting ecosystem and revolutionary real-world applications. To give investors peace of mind from the onset, Orbeon Protocol’s smart contract has been successfully audited by Solid Proof, and its liquidity has been locked for a decade. So what does it offer?
The main feature of Orbeon Protocol is its unique launchpad, which combines DeFi with fundraising to remove traditional barriers to entry. In the current funding market, startups rely on venture capitalists for funding. These venture capitalists often demand upwards of 20% of their business for funding, forcing startups into long-term congrats.
With Orbeon Protocol, startups can choose how much of their business they want to sell with NFTs representing equity in their business. These NFTs are fractionalized, which makes them accessible for as little as $1. This diversifies how startups generate funds, reducing risk while attracting investors who believe in their service or product.
All startups on Orbeon Protocol are vetted before they can be invested in, and investors are protected by a “Fill” or “Kill” smart contract mechanism, which refunds them if a startup misses its funding targets.
Each of these will be powered by ORBN. ORBN has a supply of 888,000,000 tokens, and provides access to an investor club called the “Winners Circle,” staking bonuses, governance rights, and more.
In total, 40% of the ORBN supply will be sold to the public, with 47,927,490 tokens being sold so far. During its presale, ORBN has increased from $0.004 to $0.0435, with analysts predicting this to further increase in 2023.
BONK Surges In Price After Solana Airdrop
BONK is a new dog memecoin created on the Solana blockchain. BONK was airdropped to the Solana community and has increased by 983% since the 29th of December, reaching a market cap of $50 million.
BONK has been described as the first Solana Dog Coin for the people and has become a big hit on Twitter. 50% of the initial BONK supply was airdropped to Solana NFT collectors according to the Bonk whitepaper, with the remaining BONK supply being sold on PancakeSwap.
Solana (SOL) Sees Huge Gains As We Enter 2023
Solana has bounced back in 2023, rising from $9.8 to over $13 in just seven days. Founded by the Solana Foundation, Solana was created to make decentralized finance more accessible worldwide.
In late 2022, Solana experienced an increase in trading volume, which has since been followed by a huge surge in price. Despite being significantly lower than its all-time high of $259.96, many investors believe Solana could be a strong investment in 2023.
Find Out More About The Orbeon Protocol Presale
The crypto market seems to be recovering as the world’s largest cryptocurrency in the world, Bitcoin has managed to surpass the $17,000 mark leading the recovery rally. Among altcoins, the top position has been occupied by Cardano (ADA) and Solana (SOL) which have surged 20%.
At the start of the 2023 recovery rally, Solana’s price has gained nearly 70% and has managed to push the price from December 2022’s $8 to the present $13. Traders believe that Solana might rise and move past $15 in the days to come.
After FTX saw its downfall most of the cryptocurrencies were pulled back which also included Solana’s SOL. Hence, Solana closed the year 2022 with a fall of nearly 95% before bulls made their way back in 2023.
The same is with Cardano (ADA) which has managed to get positioned as the 8th largest cryptocurrency by market cap after flipping Dogecoin. This comes after Cardano successfully gained 20% in the last 24hrs and has bagged one of today’s toppers list.
Cardano’s 2023 journey has begun on a positive note after Cardano addresses holding 1M to 100M ADA accumulated more than 200 million ADA coins.
Solana & Cardano To Begin Their Next Bull Run
At the time of publication, Solana is selling at $16.38 with a surge of 22% in the last 24hrs. While Cardano has slightly dropped from its 20% gain and is now trading at $0.32 after an upswing of 17.86% over the last 24hrs.
As per its current trade, if Cardano’s ADA manages to hold on to its $0.3 level the currency can easily move beyond the $5 level soon. On the other hand, Solana’s next resistance lies at $18 and if SOL successfully claims this level the currency will begin its next bull run soon.
The BONK price incepted the crypto markets with a blast and surged more than 300% in just a few hours. In a very less period, the Solana Shiba-INU-themed BONK gained huge attention which later impacted the SOL price which surged from a single-digit figure to as high as $13.60.
However, the BONK prices have now slashed heavily with the market experiencing a significant pullback along with Solana prices which have dropped by 3.45% and still counting.
The BONK price has been slashed by more than 70% from its highs in the past few hours, but displaying the possibility of a bullish reversal in the short-term. Therefore, the ascending consolidation may carry out for some time but may certainly not range heavily towards the upper targets situated above 50% from the current levels. Mainly due to the reason that the volume in the half-hourly chart has slumped hard. This denotes the lack of user interest since the early trading hours.
Presently, the bearish volume has intensified to a large extent and hence the price is also speculated to slice through these pivot levels and drop back towards the single-digit figure very soon. Meanwhile, the Solana price is struggling to hold above the crucial 50-day MA levels in the daily chart which is acting as strong support for the past few days. However, in the 4-hourly chart, the 200-day MA levels are still acting as strong support levels to hold on.
The price had reached the last point of defence around $7.96 and quickly rebounded to reach the interim high of around $14.14. After it marked the highs, the price is constantly consolidating within a very narrow range, but pointing towards the bottoms. In case of a bearish influence, the 200-day MA levels in the short term could act as a strong support level at $12.35.
If the Solana price successfully rebounds from these levels, then it may firmly head towards the immediate resistance at $14.94, else may drop below $10 again.
Solana token has been badly impacted by the recent happenings in the crypto space. The token depleted heavily due to the mounted bearish market sentiments but lost a large chunk of market participants as it stood exposed to the FTX collapse.
However, the token managed to regain momentum with the launch of BONK, the Dogecoin of Solana, and the price inflated to some extent. But a steep downfall of SOL price in the long term appears to be imminent.
The SOL price gained more than 30% in the past 48 hours, driven by a 110% jump in the BONK prices as the market participants witnessed a ray of hope during the current market downtown. Along with the rise in price, a notable jump in the active address was witnessed.
Moreover, in the coming days, the bearish action is assumed to be intensified which may drag the token to new lows.
The quick rebound of the SOL price in the past few days has induced significant belief within the market participants who expect future growth. Woefully, the price may certainly not remain inflated for a longer time frame. The Solana project and its price are connected to the FTX which may take months or even years to resolve.
Secondly, the SOL/USDT price is entering the liquidity zone between $13 to $16. Here the possibility of a massive sell-off emerges as the traders who took long positions in November 2022 and experience a 50% drop may exit their position. Additionally, the ones who bought SOL with limit orders at a liquidity level of $8 may close their position with 70% to 100% profit
Therefore in the mid-term, the price has formed an inverted Head & Shoulders pattern where a risky buy zone is around $10. Further, after a brief consolidation, a conservative purchase may drive the price up to $16 with a target could be set at $31 for the pattern.
It is worth understanding that the ongoing FTX proceedings may have a huge impact on the Solana price. One news or an announcement may drive the price extremely down with the lower target below $5 at $3.7 initially and later at $2.25 or even $1.65 too.
Solana (SOL) has gained over 22 percent in the past seven days to trade around $13.51 on Wednesday. However, the SOL price is yet to fully recover from the FTX and Alameda implosion, which saw the digital asset lose over 60 percent in a week. Moreover, Solana was highly incentivized in the FTX ecosystem through token listings and liquidity provision.
Having returned to mid-December resistance, a popular crypto analyst on Twitter has highlighted that SOL will trade around $20 before the end of the first quarter of 2023. Citing a technical standpoint, the analyst believes the digital asset will consolidate at current levels before heading toward $20 before the end of March.
As such, the popular crypto analyst dubbed Inmortal [@inmortalcrypto] is convinced traders who bought Solana below $10 have their portfolio performing well.
The Solana ecosystem is suffering from a lack of development activity and network attacks. Nonetheless, SOL has seen its daily trading volume up significantly in the past few days, standing at about $1.7 billion today. For comparison purposes, BNB, XRP and Dogecoin all have a 24-hour volume of less than $1 billion, according to our latest crypto data.
Notably, a spike in daily traded volume on Solana (SOL) is a high indicator of more upside in the coming weeks. Furthermore, the SOL ecosystem has managed to significantly distance itself from the FTX fiasco.
Closer Look at Solana (SOL) Market Outlook
The Solana ecosystem takes pride in over 11.5 million active accounts and has facilitated over 22 million NFTs minted. Furthermore, Solana’s high throughput and low trading fees make it a perfect fit for NFTs of all shapes and sizes. Some of the top NFT marketplaces on Solana include SolSea, Metaplex, Candy Machine, Gumdrop, and RPC Infrastructure.
Top NFT projects on the Solana network include Cryptokickers, Degen Apes, and Solana Monkey Business.
The Solana ecosystem has been developing a mobile development kit for Web3 developers seeking to tap into the Saga phone. Notably, the Solana Mobile Stack, developed by Solana Mobile and coming first on the Android-compatible Saga phone, aims to make mobile more crypto-friendly.
Nonetheless, the Sol ecosystem is yet to convince the crypto community of its network stability. Moreover, network downs were very rampant last year fueled by bugs.
Meanwhile, the Solana ecosystem takes pride in a global community ready to support its Web3 products like SolanaPay.
Ben Armstrong is a YouTuber, podcaster, crypto enthusiast, and the founder of BitBoyCrypto.com. He is better known as BitBoy Crypto and attempts to educate and inform the crypto community.
He has recently been circulating claims concerning the Solana Blockchain’s uncertainty. Armstrong claimed that Solana was dead and that there might be no other way to save the network. He further claimed that Alameda Research was laundering money and brute forcing transactions every time the Solana blockchain paused. And the enthusiasts who own this currency should dump it.
Unsurprisingly, he has made yet another controversial remark about the token.
“ADA is 75% bigger than SOL,” BitBoy continues to slam Solana
In a recent tweet, Armstrong reminded the community that Cardano’s native coin, ADA, is 75% larger in terms of market capitalization value than SOL. Bitboy said that ADA was a much bigger cryptocurrency than SOL, pointing out that it had almost double the market cap of SOL when sharing the list of cryptocurrencies by market cap. While ADA was in the top 10, he said, SOL ran the chance of slipping to 15th place behind Tron’s TRX.
The crypto influencer believes that the end is close for Solana, which has been plagued by fear, uncertainty, and doubt as a result of its ties to the collapsed crypto exchange FTX and its disgraced founder Sam Bankman-Fried. Recent announcements from well-known NFT projects outlining plans to switch to Ethereum have made the issue worse.
Cause of Solana’s Dismissal of Performance
Solana’s main issue in late 2022 was its strong association with FTX founder Sam Bankman-Fried, who is facing eight criminal fraud charges after his crypto exchange went bankrupt. When FTX failed, investors bailed on Solana to the tune of $8 billion. But Solana has fallen even further in recent days as the rest of the cryptocurrency market has been largely quiet and prices have remained constant.
Additionally, two prominent projects, DeGods and y00ts have announced their departure from Solana and revealed that they would be migrating to Ethereum and Polygon. The projects’ creator, Rohun Vora, believes the projects have accomplished everything they can on the Solana network. Polygon and Ethereum are the best places to be in order to encourage growth.
While supporting a claim by a user that Solana is dead, Bitboy tweeted, “I’m sorry if this hurts your feelings… but this is facts, More NFT and crypto projects will leave Solana.”
The price of Solana is at $ 13.52 per (SOL / USD) with a current market cap of $ 4.97B USD. The future predictions do not look optimistic either.
The crypto bulls are trying their best to get the market back on a bullish track and recover.
However, there is one altcoin that has excelled in the bullish momentum. Solana, the top 15th largest cryptocurrency by market cap, has gained a whopping 20% in the last 24hrs and surged nearly 40% in the last seven days.
At the time of writing, Solana is selling at $13.96 after a gain of 17.6% on the last day.
Solana Price Surges By 20% With BONK
This price surge comes amidst the launch of the new Shiba-Inu-themed token ‘Bonk’ (BONK). BONK mainly generates airdrops to Solana NFT, anti-Alameda Research sentiment to improve the community environment. It’s a known fact that after the Alameda and FTX collapse, the crypto community bore a massive negative impact, and the Solana network was on the receiving end as well.
However, after Solana had its first BONK airdrop, SOL picked up its pace leaving behind meme currencies like Dogecoin and Shiba Inu. In the last 24hrs, BONK has gained the highest trading volume after USDC and SOL. On the other hand, BONK’s first 20 holders have accounted for 50% total supply and BONK DAO holds 15% of its total supply.
Currently, Solana’s price is struggling to move past $15, but if SOL successfully manages to move beyond the said barrier, Solana is expected to see another 20% surge. Meanwhile, currently, BONK is selling at $0.000001793 with an upswing of 86% in the last 24hrs.
It is observed that the major factor that is pushing the BONK price rally is its acceptance from the NFT market. However, if the BONK holder decides to sell off, the move will pull back SOL towards $10.
Top Solana NFT Collections Migrate To Polygon, Snowfall Protocol Sells 200 million+ tokens In 2 Months
The crypto market is an exciting place to be right now. With so many new projects and coins coming out, it can be difficult to decide which one to invest in. In this article, we are going to talk about the recent developments of some of the most well-known cryptocurrencies in the market today: Snowfall Protocol (SNW), Cardano (ADA), and Polygon (MATIC).
Over the past two months, Cardano (ADA) sharks have started being active again. Beginning in early November, these Cardano (ADA) wallets have been accumulating hundreds of millions of dollars worth of tokens. As of the beginning of November, these wallets held roughly 10.5% of the entire Cardano (ADA) supply. In contrast, after purchasing an additional 330 million Cardano (ADA) tokens for a total of $83,000,000, the percentage is presently at 11.60%, almost 6 weeks later.
The major increase in shark purchases will have possible long-term effects on the value of the digital asset. The value of Cardano (ADA) is likely to rise as a result of such a large influx of investment. Although the shark movement was intended to reverse the downward trend that Cardano (ADA) has been experiencing, the current market conditions have prevented the same. In the last 30 days, Cardano’s (ADA) value has dropped 18%, to $0.26.
Solana NFT Collections to soon shift to Polygon (MATIC)
Both y00ts and DeGods, the two largest NFT collections on Solana, have stated their intention to move to other blockchain like Ethereum (ETH) and Polygon (MATIC) in 2023. Thus, Ethereum and its Layer-2 solution, Polygon (MATIC), are set to become the next stop for digital art collections. Ethereum was never questioned, but allegations quickly spread that Polygon (MATIC) had offered financial incentives to encourage projects to move to its platform.
Solana Labs’ co-founder accepted this incident in stride, commenting on claims that Polygon (MATIC) financed the projects, and DeGods founder hasn’t refuted it either. Many in the crypto community now believe that the NFT collection will not be relocated to Polygon (MATIC) for the advantages it provides, but rather because of the price paid.
Snowfall Protocol (SNW) favored by millions of crypto lovers
With its recent meteoric rise in price, Snowfall Protocol (SNW) has caught the eye of many eager buyers. Snowfall Protocol (SNW) is the first platform to enable fungible and non-fungible token exchange across multiple blockchains without the need for third-party intermediaries.
Snowfall Protocol (SNW) will release its dApp soon, which will allow users to trade assets across multiple, EVM-compatible and non-EVM-compatible blockchains. By return on investment, Snowfall Protocol (SNW) token ranks among the top performers in the DeFi market. Since its early presale stages, the popularity of Snowfall Protocol (SNW) has increased tremendously, leading to sales of over 200 million tokens in just two months.
Owing to the Snowfall Protocol (SNW) unique features and use case, its price has gone up by more than 400%. Upon its launch in January 2023, some analysts predict that the price of Snowfall Protocol (SNW) will have increased by 5000%. Leading market analysts predict that Snowfall Protocol (SNW) will be the next 1000x token and would completely turn the crypto market’s current situation around. At the time of writing, the price ofSnowfall Protocol (SNW) is $0.14, however, it is expected to increase dramatically in the near future.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
Both once-trendy crypto projects, Cardano (ADA) and Solana (SOL), have been plagued by several setbacks this year. Understandably, investors of these crypto assets are now concerned and have grown weary of the assets’ consistent decline. These investors are now in search of new investments to put their money into.
Projects such as Snowfall Protocol (SNW) allow investors to make huge returns. Unlike Solana and Cardano, Snowfall Protocol (SNW) has provided good yields to its early investors even under bearish pressure.
Cardano (ADA) had a stellar year in 2021. The bulls were able to pull a 691% price increase in the calendar year, demonstrating their power. With such momentum, Cardano (ADA) reached a market capitalization of $97.52 billion and an all-time high of $3.03 in September 2021. But, since the bears seized control of the crypto market, Cardano has underperformed, taking a huge knock and nearing the $0.3 support level.
Cardano (ADA) has broken the $0.3 support level and currently trades at $0.243 – $0.257. Cardano (ADA) has been chastised recently, particularly for its poor development rate. This gradual progress continues to have a negative impact on the market, and no price rise is foreseen anytime soon.
No End In Sight To Solana (SOL) Decline
Aside from the market’s bearish pressure on Solana (SOL), a significant attack on its lending protocol has influenced a massive decline in value. An attacker stole $100 million from Mango Markets, a DeFi platform, and is currently holding it hostage until the network covers its liabilities. This announcement comes on the heels of yet another network glitch, and Solana will have a difficult time in the coming months.
Given all these negative pressures, Solana’s value has gradually declined. Solana (SOL) has dropped around 4% to $9.52 – $10.78 as of this writing, representing a drop of 96.30% from its peak. Following their dissatisfaction with Solana (SOL), investors are now motivated to invest in Snowfall Protocol (SNW).
Snowfall Protocol (SNW) Surges from $0.005 to $0.17
Snowfall Protocol (SNW) has launched its dApp prototype after experiencing tremendous success in recent months. The Snowfall Protocol (SNW) dApp enables users to transfer and receive tokens between wallets on several blockchains in a secure and timely manner. Likewise, Snowfall Protocol (SNW) includes smart contract features that allow token swaps and many other activities that necessitate token exchange.
Snowfall Protocol (SNW) promises to be the only platform investors require for asset transfer, eliminating the requirement for a trusted third party or middleman. The Snowfall Protocol (SNW) dApp functionality has assisted it in raising $3 million in just two months of the presale.
The current and final Snowfall Protocol (SNW) presale round will likely be more profitable than the last ones. Snowfall Protocol (SNW) distributed more than half of this round’s tokens in less than two weeks. As a result, the price of Snowfall Protocol (SNW) has risen from $0.05 to $0.17 in the last week, with more expected ahead of its January debut.
2022 has not been kind to the crypto market. Among the biggest blows of the year was the collapse of the FTX exchange. When FTX declared bankruptcy, it sparked a chain of events that pulled the entire crypto market down with it. Even now, the ripples of the FTX collapse continue to haunt the crypto-verse. News of the judge withdrawing from the FTX case, the drop in the price of Solana (SOL), and the sharp rise in the value of Snowfall Protocol (SNW) – they all seem to be closely related.
The FTX bankruptcy case has been anything but dull. The legal proceedings took yet another exciting turn when the District Judge, Ronnie Abrams, recused herself from participating in the case. She brought to the court’s notice a possible conflict of interest.
Greg Andres, husband of the judge, Ronnie Abrams, works as a partner at a law firm that advised FTX in 2021. She clarified, “My husband has had no involvement in any of these representations…Nonetheless, to avoid any possible conflict, or the appearance of one, the court hereby recuses itself from this action.”
It is worth noting that Greg Andres had previously been working for the Eastern District of New York in the capacity of Assistant United States Attorney. Andres was responsible for prosecuting criminal fraud and investigations involving foreign bribery.
Solana On a Downtrend
Solana (SOL) has been one of the fastest-growing cryptocurrencies before the collapse of FTX. In fact, FTX was among the biggest supporters of Solana (SOL). On examining the balance sheet of FTX, it was found that FTX held around $100 million in Solana tokens. When FTX went down, naturally, the value of Solana (SOL) also fell dramatically.
The fall of FTX only exacerbated the existing problems with the Solana (SOL) blockchain. Solana (SOL) pegged itself as a reliable and efficient network for crypto transactions. However, Solana has suffered through multiple outages lasting multiple hours many times. So, Solana (SOL) is not able to deliver on its primary use case, a crisis that has only exacerbated in the aftermath of the FTX collapse.
The Rise of Snowfall Protocol (SNW)
Snowfall Protocol (SNW) was launched in a year when every cryptocurrency was facing selling pressures. However, this did not affect the presale of the Snowfall Protocol (SNW). The main reasons for the success of Snowfall Protocol (SNW) have been its primary use case of interoperability and the developers’ vision.
When the stage 3 sale started, Snowfall Protocol (SNW) had already appreciated 250% in value compared to its price in the stage 2 sale. Snowfall Protocol (SNW) is already helping its users to earn passive income with its rapidly multiplying price.
In addition, Snowfall Protocol (SNW) has also successfully presented its first dApp prototype. All these developments have taken place before the launch of the crypto, which is scheduled for January 3, 2023. Experts are predicting the price of Snowfall Protocol (SNW) to increase by 1,000% after its launch.
The price of cryptocurrencies routinely experiences ups and downs. However, not all successful cryptocurrencies are now working as expected.
Solana (SOL) and Cardano (ADA) investors are looking for alternate investments since these cryptocurrencies are underperforming. Hence, their attention is shifting toward alternative cryptocurrencies, such as Sparklo.
Investors in Solana (SOL) Are Giving Up All Their Investments
One of the most well-known fourth-generation cryptocurrency initiatives is Solana (SOL). The main goal of this project is to provide an open infrastructure to improve quantifiability.
The Solana (SOL) network’s unique state-of-the-art technology provides users with the greatest protection. Further, users may benefit from unparalleled data transmission rates.
When the Solana (SOL) concept was first introduced back in 2017, it attracted a lot of interest. But as of now, it doesn’t seem that Solana (SOL) is a worthwhile investment for cryptocurrency investors.
Cardano (ADA) Might Not See A Promising Future Anytime Soon
Another cryptocurrency that is struggling as of now is Cardano (ADA). This cryptocurrency might not see a promising future anytime soon.
The concept behind Cardano (ADA) is innovative as it allows people to take the functionalities of Ethereum (ETH) blockchain to the next level. There are numerous applications deployed within the Cardano (ADA) network as well.
Unfortunately, this cryptocurrency is dealing with the bear market, and it is not in the best interest of major investors.
Investing in Sparklo (SPRK) Will Be A Good Thing To Do
Sparklo, a recently launched cryptocurrency, has indeed been able to draw a significant amount of attention recently. Sparklo is now doing its presale, and each token is only $0.013.
By investing in Sparklo right now, early investors can expect significant returns in the future. According to experts, Sparklo will increase by 4,000% in 2023.
Sparklo is a safe investment platform, as it passed the audit conducted by Interfi Network. Also, Its liquidity is locked for 100 years. There is no doubt how safe and promising Sparklo is.
Cryptocurrencies are gaining increasing attention due to their potential to revolutionise the way transactions are conducted.
Snowfall Protocol (SNW) is a new cryptocurrency that boasts superior features over other popular cryptocurrencies like Cardano (ADA) and Solana (SOL). In this article, we are talking about what makes Snowfall Protocol (SNW) a better choice than Cardano (ADA) and Solana (SOL).
Solana (SOL) declines after major hack
Solana (SOL) has experienced a serious hack on one of its largest DeFi protocols, adding to the difficulties the network has had in recovering from the debilitating harm caused by the shocking collapse of one of its most important backers, FTX. On Friday, the Solana DeFi protocol, Raydium, revealed that a hacker had gained “owner authority” and was draining the company’s liquidity reserves. The hacker stole $1.6 million in Solana (SOL).
Consequently, Solana’s (SOL) cost has dropped by 7.72% over the past week, and by over 18% this month. This is not the first time Solana (SOL) was exposed to a hack this year. The consistent security breaches could mean there isn’t much security backing Solana (SOL). Therefore, investors are flooded with doubt whether they should continue holding Solana (SOL) tokens.
Paxful founder rejects Cardano (ADA) after Ethereum (ETH)
In a recent Twitter post, Paxful founder and Bitcoin peer-to-peer marketplace creator, Ray Youssef, stated that he would not be supporting Cardano (ADA), along with two other prominent tokens, on his platform. This comes after Youssef announced the delisting of Ethereum (ETH) from the platform.
According to analysts, the price of Cardano (ADA) may be heading for a precipitous drop after this announcement, supported by the overall market outlook for the token. As 2023 approaches, investors in the cryptocurrency industry are still trying to recover from a difficult year in which most of its assets, notably Cardano (ADA), incurred substantial losses.
Cardano (ADA) is in a consistent bearish trend, as shown by the daily chart. Moreover, Cardano (ADA) has been trading in a downward channel since August.
Experts predict that by 2023, the price of Cardano (ADA) could have dropped by another 60%. At the time of writing, Cardano (ADA) was trading at $0.31.
Snowfall Protocol (SNW) rises over 250% in one month
Due to the widespread demand for a more functional and streamlined cryptocurrency market, Snowfall Protocol (SNW) was introduced. The goal of Snowfall Protocol (SNW) is to establish a straightforward method of cross-chain communication that is highly efficient and secure. Snowfall Protocol (SNW) uses a canonical bridging concept to facilitate exchanges with both EVM-compatible and non-EVM-compatible blockchains.
The launch of Snowfall Protocol (SNW) on January 3, 2023, should be at the top of the priority list for any cryptocurrency investor seeking a high rate of return on their initial investment. The presale and stage 2 of Snowfall Protocol’s pre-launch campaigns were both resounding successes for SNW.
Snowfall Protocol (SNW) token is currently in the last phase of presale and is trading at $0.14, up from $0.075 in the last round. Many industry experts predict that Snowfall Protocol (SNW) will become one of the tokens that helps most people earn huge ROIs in 2023.
In the middle of an already challenging year, the FTX crash has made things much more tough for Solana, and many in the cryptocurrency industry seem to believe that the project will ultimately fail.
Throughout the course of the year, Solana had a number of problems and became unsteady when used often. Users complained that the platform was too centralized, which caused the SOL price to change whenever there was a problem with the network.
To invest in Solana initiatives, FTX and Alameda Research fraudulently obtained and used client funds. As a result, all of the money has been lost, and the user experience will be most likely permanently tarnished.
The price of Solana suffered a significant dip only a few days before the FTX collapse news broke, indicating that there was quite possibly some meddling going on inside the exchange. SOL’s price has decreased by 73% since November 5th.
At the time of publication, one token is worth $9.98, reflecting a decrease of 10.41% over the course of the last 24 hours and 17.6% over the course of the past seven days. It’s important to note that SOL hasn’t traded for less than $10 since February 2021, therefore the current situation is rather concerning.
Projects Keep Leaving Solana
In a turn of events that should not come as much of a surprise, stacks of projects have started leaving Solana.
Both the DeGods NFT art collection and the Y00ts NFT collection stated on Twitter on the 26th of December that they will be severing their links with the ecosystem in favor of Ethereum and Polygon, respectively.
The spread of fear, uncertainty, and doubt (FUD) around SOL is, quite honestly, completely justified.
And provided that there are no fundamental problems, frauds, or a halt in development, FUD directed against a project is often something that may be regarded as good. Solana’s reputation has been significantly tarnished as a result of FTX, yet it may not be irreparably damaged.
It is important to note that in 2018, the Ethereum ecosystem was hit by a similar issue, which caused its value to drop by more than 90 percent; yet, the currency would eventually reach new highs. There are often unexpected breakthroughs in the cryptocurrency market, and so 2023 might see Solana making a comeback… or not.
As cryptocurrency technology continues to advance and more people are looking for ways to diversify their investments, many investors have taken notice of the presale of Oryen Network (ORY). ORY is a staking platform that aims to simplify the complex staking process and make it accessible to everyone. It recently released the beta of its platform, which shows the first look at its staking pools, the OryenSwap, and much more. ORY has returned astonishing gains for early buyers since the start of the presale, which has led to it being mentioned in news headlines and discussed among various communities, including being listed as one of the best DeFi coins.
Solana (SOL) is a blockchain-based protocol with similar features and capabilities compared to ORY. SOL was launched by a team of experienced software engineers and entrepreneurs who had previously worked at well-known companies such as Qualcomm and Dropbox. The platform was designed with scalability in mind and can deliver up to 50k transactions per second with consistent latency. In addition, SOL tokens can be staked for rewards within the network or used for paying transaction fees.
Oryen Network (ORY) Presale
The opportunities provided by investing in ICOs like Oryen Network (ORY) have caught the attention of some top traders who saw potential in these projects from the outset. Prominent traders like Steven Clarke, Jim Crypto, and even Reddit’s infamous WallStreetBets members bought into SOL during its early days due to its low price point – which attracted investors looking for big returns on their investments. Since then, SOL has seen massive growth, thanks to increased outreach by active members and investors spreading the gospel within the decentralized finance (DeFi) community.
There is no doubt that blockchain technology will continue to evolve over time, providing innovative solutions that can be implemented across different industries. For those looking for an opportunity to get involved in emerging technologies such as ORY or SOL, now may be a perfect time due to market sentiment at an all-time low – making it likely that ORY will launch into a new macro uptrend once it hits exchanges such as PancakeSwap and KuCoin. Ultimately it’s up to each investor’s individual risk preferences when deciding whether or not they want to invest in ICOs. However, those who bought in early on ORY and SOL seem to be reaping benefits from their decision thus far!
What the terrible year 2022 has been for the crypto industry as a whole. The situation for Solana (SOL) hasn’t been great, and following the FTX crash, it worsened since Alameda Research held a large number of tokens in the Solana ecosystem. The entire crypto community is left wondering what the future holds for the asset as the year winds down.
Why Are Projects Ditching Solana?
As Solana’s ostensible last-ditch efforts in NFT fail, the protocol’s situation seems to be becoming worse. Two major initiatives in the Solana ecosystem have left for other chains during the previous day. Their departures will take place in the first quarter of 2019.
The deflationary Solana NFT project DeGods announced recently that it will be moving to the Ethereum environment in the first quarter of 2023. Moreover, Y00topia, another Solana NFT project, has also announced that it would be bridging to the Polygon blockchain at the beginning of next year. The creators of the projects claim that growth may be stimulated most effectively in Ethereum and Polygon.
Solana used to be one of the top ten biggest cryptocurrencies by market cap until the FTX debacle. It competed with other cryptocurrencies such as Binance Coin (BNB), Cardano (ADA), and Ripple (XRP). At this point, SOL is ranked sixteenth and has a market value of a little over $5 billion.
Bitboy Talks Solana
A well-known cryptocurrency influencer and YouTuber by the name of Bitboy Crypto has provided some forecasts pertaining to Solana. According to him, there would be an increase in the number of projects that would leave the Solana ecosystem.
In his words:
“I’m sorry if this hurts your feelings… but this is facts. More NFT and crypto projects will leave Solana.”
On Dec. 26, founder of Solana Labs Anatoly Yakovenko responded to the news, saying that he would prefer it if they concentrated only on Solana.
Nevertheless, he was optimistic that the Solana ecosystem would grow due to the interest generated by the team’s efforts to explore uncharted territory.
Folks on Twitter don’t appear to agree with him. Though it’s obvious that some people believe the crypto project is doomed, others are optimistic since they’ve seen the high quality of the work and the dedication of the team.
Is Solana Dead?
However, investor sentiment remains mostly negative; an ongoing survey conducted by Bitboy shows that nearly 70% of users believe Solana to be dead.
Despite the fact that Solana has been experiencing a number of problems as of late, I have every confidence that the project will eventually bounce back. Therefore, in my opinion, you should not give up hope.
Polkadot and Solana have established cryptocurrencies that are well-known among investors. However, Polkadot and Solana have failed to meet investor expectations due to their internal and macroenvironmental issues. On the other hand, Snowfall Protocol (SNW) offers its investors incredible value. It has already multiplied investor wealth since presale and is predicted to keep up even after its launch.
So, if you are invested in Polkadot or Solana, it’s time to rethink your investments and recoup your losses by investing in Snowfall Protocol (SNW).
Polkadot differentiated itself from its competitors by offering to become a platform to interlink blockchains and let them communicate with each other. However, Polkadot’s architecture makes it difficult for Polkadot to realize its use case.
Polkadot has a limited number of validators and is rising very slowly because Polkadot has very high system requirements. Also, it takes around 1.7 million Polkadot tokens to qualify to become a validator on Polkadot. The reward-to-risk ratio is also incredibly skewed toward risks.
Polkadot has also failed to help its investors create value for a while now. Polkadot has shown that it marginally increases in a bull market but crashes in a bear market. The volatility of the coin also does not inspire investor confidence.
Solana is a well-known name in the crypto market with a good investor base. As a layer 2 Ethereum chain, Solana promised scalability and speed to its investors. However, Solana has repeatedly shown that it is highly prone to outages. That has already dented investor confidence. However, the FTX collapse completely pulled the rug under Solana. Solana was supported by FTX, which held almost $100 million worth of Solana in their balance sheets. With the FTX collapse, Solana took a big hit.
With the ongoing issues with the Solana blockchain, such as the biggest supporters of Solana declaring bankruptcy, Solana’s price took a nosedive. Unsurprisingly, the value of Solana dropped by more than half and is not showing any signs of sustained recovery. For this reason, Solana has not met investor expectations.
Snowfall Protocol (SNW)
The Snowfall Protocol (SNW) is an interoperability blockchain that provides a smooth transfer of crypto assets from one blockchain to the next. Snowfall Protocol (SNW) has offered its investors a clear roadmap for the future and has also released the prototype dApp. Snowfall Protocol (SNW) also offers staking returns to its users on its launch on January 3, 2023.
Snowfall Protocol (SNW) has created a lot of investor interest since its pre-launch. After the successful closure of stage 2, stage 3 started with a 250% premium. Snowfall Protocol (SNW) is set to create 5,000% gains for its users over the months following its launch.